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TeamLease Services surges 6 pc as RBI hikes FPI limit

Press Trust of India  |  New Delhi 

Shares of today surged nearly six per cent on the bourses after the RBI hiked foreign investment limit in the staffing firm to 75 per cent from 24 per cent earlier.

The stock settled 5.87 per cent higher at Rs 2,151 on the It had opened on a positive note at Rs 2,076.95 and soon surged by 17.5 per cent to touch the day's high of Rs 2,387.25.

A similar movement was seen on the NSE, wherein the scrip closed at Rs 2,168, up 5.75 per cent from the previous close. During the day, the stock had hit a high of Rs 2,392 and a low of Rs 2,060.10.

However, the broader market remained weak as the Sensex plunged by 284.11 points to close at 33,033.09.

The Reserve (RBI) after market hours yesterday, notified that the Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in has increased to 75 per cent from 24 per cent of its paid up capital.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 07 2018. 18:40 IST
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